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ABA opposes Suspicious Transaction reporting for lawyers

ABA opposes Suspicious Transaction reporting requirement for lawyers; international money laundering organisation charged; and the BBC set to release ‘The Gold’.

Napier AI
February 10, 2023

The American Bar Association passes a resolution that will curtail law enforcement’s efforts to investigate financial crime. An international money laundering organisation which allegedly facilitated transactions for criminal clients has been charged in Australia, and in other news, the BBC airs a star-studded TV drama based on the infamous Brink’s-Mat bullion heist this weekend.

ABA passes rule against suspicious transaction reporting for lawyers

The American Bar Association passes a resolution opposing legislation that requires lawyers to flag potential illicit financial activity on the basis of preserving client confidentiality, a move that may be a ‘stumbling block’ in investigating financial crimes. The ABA supports further education and voluntary guidance on anti-money laundering procedures and is also considering changes to its professional conduct rules around client vetting.  

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Australian Federal Police charges money laundering group; retains property and cash

The Australian Federal Police has charged nine members of an international money laundering organisation headquartered in Sydney, which allegedly laundered more than $150 million derived from criminal activities between 2018 and 2022. It is alleged that the organisation facilitated movement of illicit money through exploitation of daigous, casino junkets and the informal value transfer system.

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BBC One’s ‘The Gold’ based on Brink’s-Mat bullion heist set to air

Ahead of its launch this Sunday, 12 February, the drama ‘The Gold’, based on the infamous robbery that took place in London on 26 November 1981 is some of the UK’s most talked about TV. The synopsis of the star-studded show promises a faithful retelling of the ‘crime of the century’, inspired by extensive research and interviews with key players at the time.

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Photo by Tingey Injury Law Firm on Unsplash

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